August 22, 2019 / 2:33 PM / 2 months ago

CANADA STOCKS-TSX gains on energy lift

Aug 22 (Reuters) - Canada’s main stock index edged higher on Thursday, as energy companies were lifted by higher oil prices, but gains were limited by losses in precious metal miners weighed down by lower gold prices.

* Oil rose further above $60 a barrel on Thursday, supported by a drop in U.S. crude inventories and OPEC-led supply cuts, although worries about the global economy remained.

* The energy sector climbed 0.6%, the most among the major sectors.

* Sentiment was also helped by a clutch of better-than-expected purchasing manager surveys (PMI) out of Germany, France and the euro zone.

* However data from the U.S. showed manufacturing industries recorded their first month of contraction in almost a decade over concerns whether the U.S.-China trade conflict would tip the economy into a recession.

* At 10:00 a.m. ET (14:00 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 12.8 points, or 0.08%, at 16,322.03.

* On the TSX, 110 issues were higher, while 116 issues declined for a 1.05-to-1 ratio to the downside, with 21.08 million shares traded.

* The largest percentage gainers on the TSX were Turquoise Hill Resources Ltd, which jumped 9.2% and MEG Energy Corp, which rose 3.4%.

* CannTrust Holdings fell 5.9%, the most on the TSX, and the second biggest decliner was Saputo Inc, down 4.6% after it announced plans to raise $599 million in equity.

* Among the most heavily traded shares by volume were Belo Sun Mining Corp and Stornoway Diamond Corp.

* The TSX posted six new 52-week highs and two new lows.

* Across all Canadian issues there were 19 new 52-week highs and 10 new lows, with total volume of 44.29 million shares. (Reporting by Amy Caren Daniel in Bengaluru; Editing by Shounak Dasgupta)

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